HÀ NỘI – The Joint Stock Commercial Bank for Foreign Trade of Việt Nam (Vietcombank) on Saturday announced on its website that the bank would revise its plan to apply new online banking security regulations.

The plan to revise the regulations followed responses received by the bank citing the rules unreasonable.

Vietcombank said that it would consider necessary amendments to online banking security regulations to ensure compliance with the established regulations and international practices while maximising users’ benefits in keeping with the situation in Việt Nam, adding that several terms might cause misunderstanding.

Several days ago, Vietcombank announced that the new regulations would be applicable from May 10, asking users to maintain high requirements of security when using online banking, also requiring them to commit to being responsible for all damages and costs of any fraud transactions caused by their failure in following the rules.

The new regulations were termed unreasonable, heavily placing the onus of online banking transactions on the shoulder of users, whenever there are any security problems.

The bank said that the current regulations would still be applied until there was a new announcement.

Vietcombank will also regularly send recommendations to its customers and urge them to pay attention to its recommendations to avoid unexpected risks when using banking services.

It said that it would stand on the customers’ side to protect their interests when the problems were not caused by their faults.